HOMMA Nails Series A Second Closing, Expanding to $14m
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The HOMMA Team poses in front of the HOMMA Mt. Tabor project in Portland, OR
HOMMA Raises an Additional $5.7M in Second Closing of Series A Preferred Round
HAYWARD, CA, USA, October 15, 2021 /EINPresswire.com/ -- HOMMAⓇ Group Corp, a Silicon Valley start-up that is building next generation homes using a unique combination of its own design and proprietary smart home technology, today announced the second closing of its Series A Round with an additional investment of $5.7 million. This brings its Series A funding total to nearly $14 million. Ted Homma, the CEO and founder of the company commented, “I am very pleased with this further endorsement of our company and our strategy to deliver a compelling smart-home experience.” Mr. Homma continued, “This second closing will allow the company to more rapidly execute its aggressive growth strategy, both in terms of technology and property development.”
The second closing was led by KUSABI Fund of Japan, along with Chiba Dojo Fund, Ryobi Holdings, Mitsui Sumitomo Insurance Venture Capital, and Venture United. The company expects to use the proceeds to continue to scale hiring in both the US and Japan, to accelerate the development of Cornerstone AI, HOMMA’s Smart Home Technology Platform, and to further expand into new residential projects in the US.
HOMMA also announced the expansion of its management team with two new members. Mr. Subaru Baba joined the company as the Head of FP&A based in Tokyo and brings over eight years of FP&A, controllership and internal audit experience from General Electric. Mr.Baba will partner with the company's CFO to strengthen the company's finance and corporate capabilities. Mr. Yuta Okajima also joined the company as the Design Technologist based in Seattle and will work to accelerate the development of product design and user experience (UX) -- key initiatives of the company. Mr. Okajima brings fifteen plus years of experience in the software UX area, formerly with Sony Network Communications and UIEvolution in both Japan and the US.
Finally, the company announced a change of corporate structure, shifting the domicile of the company to Japan with a US subsidiary responsible for the ongoing US operations.
HOMMA is currently developing its first smart community in Portland, Oregon, called HOMMA Haus Mount Tabor. This project is expected to be completed in December 2021. HOMMA is also continuing its land acquisition strategy in preparation for a larger scale community in the same city. The company is continuously looking to expand its team, especially for software engineers to develop its smart home technology as well as members for corporate divisions. Please see hom.ma/contact to inquire.
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James Horn
HOMMA Group Corp.
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